According to the source, the Ripple SEC case update indicates a significant shift as the lengthy legal battle nears its conclusion. Recent court activity signals progress, drawing attention from XRP holders and the wider crypto community.
With both parties stepping back from appeals and the judge making key decisions, many are now watching for what comes next in one of crypto’s most closely followed cases.
Expert Declarant Removed: A Technical But Telling Sign
Andrew Kunsak, legal counsel at Sidley Austin LLP, filed a letter with Judge Torres requesting the removal of an investment banker declarant from the court docket, a procedural move that indicates administrative matters have now taken center stage.
“There is no longer a need for the declarant’s role, and his testimony is sealed and unchallenged,” it stated.
The declarant has participated since August 2023 to give an expert opinion on Ripple’s market operations and XRP sales. With no other objections and both parties nearing the completion of a settlement, legal cleanup is underway.
No Change to Penalty, Ripple’s Motion Denied
This Ripple SEC case update comes shortly after Judge Torres denied the joint motion from Ripple and the SEC to reduce the existing penalty of $125 million to $50 million, which also sought to lift the injunction preventing Ripple’s sale of XRP to institutions.
In her ruling, Judge Torres stood firm:
“The parties do not have the authority to agree not to be bound by a court’s final judgment that a party violated an Act of Congress in such a manner that a permanent injunction and a civil penalty were necessary to prevent that party from violating the law again.”
Both the SEC and Ripple have since withdrawn their appeals, including Ripple’s earlier cross-appeal. With litigation tools exhausted, all eyes now turn toward the final ruling.
Analysts Eye the Endgame
Crypto legal analyst Fred Rispoli said:
“This isn’t just legal housekeeping. The court is preparing to close. We may see a final judgment or order within weeks.”
Brad CEO Brad Garlinghouse, in a separate statement, confirmed that Ripple is stepping away from further appeals to focus on moving forward:
“Ripple is dropping our cross appeal, and the SEC is expected to drop theirs, as they’ve previously said. We’re closing this chapter once and for all, and focusing on what’s most important, building the Internet of Value.”
The company appears ready to refocus on product development and international growth, especially with recent banking partnerships across the Middle East and Europe.
What Does This Mean for XRP Holders?
| Key Point | Status |
|---|---|
| Declarant removal | Done — Expert testimony sealed |
| Penalty reduction | Denied — $125M fine stands |
| Appeals from both sides | Withdrawn |
| Court status | Administrative wrap-up underway |
| XRP price | Trending up amid speculation |
This Ripple SEC case update confirms what many in the space expected: a formal end is near. However, without penalty relief or injunction changes, Ripple must still tread carefully in U.S. markets.
Conclusion
The Ripple SEC case update shows clear signals that both the company and the court are preparing to close the books. At the same time, Judge Torres has not yet formally dismissed the case; every action taken from dismissing experts to denying last-minute motions shows that the case is moving toward a final judgment.
Crypto observers should remain vigilant. This Ripple SEC case update has already established a standard for classifying and regulating digital assets in the United States. If these proceedings come to an end, it could have ramifications for the XRP case and any future lawsuits the SEC might bring against other crypto firms.
Summary
The Ripple SEC case update suggests the lawsuit is nearing a conclusion, with the latest filings being responded to by Judge Torres. Both parties withdrew their appeals, while one of their major expert witnesses from the case has been struck off.
The $125 million penalty remains intact, notwithstanding some cleanup of the legal aspects, which also keeps the ending much in sight. The announcement affected the price of XRP, which surged amid heightened trader and investor optimism as they watched the last-minute moves.
FAQs
Q: What is the current status according to the latest Ripple SEC case update?
A: Both parties withdrew appeals; the court is completing specific administrative steps. A determination may arise at any time.
Q: Did Ripple get a fine reduction?
A: No. The $125 million remains as Judge Torres denied the motion to reduce it.
Q: And this has impacted XRP price how?
A: Post-the-latest-filing, XRP shot up more than 6%, as people now think a final resolution will come around.
Q: Is there going to be an XRP ETF?
A: Not really, as there is no application yet; however, with the closed case, chances for spot ETF approval are improved.
Glossary of Key Terms
Declarant: A witness who provides sworn statements in court.
Injunction: A court order preventing specific actions—in this case, Ripple’s institutional sales of XRP.
Appeal: A legal process where a party asks for a higher court to review a lower court’s decision.
Spot ETF: An exchange-traded fund that holds the actual underlying asset (like XRP) rather than futures contracts.
Trading Volume: The total dollar amount of an asset traded within a given time.
Sources / References
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